Visa tops Street 3Q forecasts

AP News
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Posted: Jul 20, 2017 4:31 PM
Visa tops Street 3Q forecasts

SAN FRANCISCO (AP) — Visa Inc. has reported fiscal third-quarter profit of $2.06 billion.

The San Francisco-based company said Thursday it had net income of 86 cents per share. The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The global payments processor posted revenue of $4.57 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $4.36 billion.

Visa shares have climbed 26 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 11 percent. In the final minutes of trading on Thursday, shares hit $98.34, a rise of 24 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on V at https://www.zacks.com/ap/V

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Keywords: Visa, Earnings Report, Priority Earnings